PLEASE READ: At the request of the auction company, this auction permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf. While Proxibid's Unified User Agreement prohibits this behavior, in accordance with UCC 2-328, this auction is permitted to engage in this activity by providing this clear disclosure to you, the bidder.
PLEASE READ: This auction company has requested and been granted access to see all bids placed including any maximum pre-bids. This auction is permitted to engage in this activity by providing this clear disclosure to you, the bidder.
Special Terms
Live Auction Date: January 21, 2019 at 12:00 noon
Live Auction Location: 552 Fox Cove Ferguson NC 28624
PLEASE NOTE: We do not have a dedicated internet line at the exact auction location and cell phone service is spotty. We will be using a nearby home with internet service and phone calls from the auctioneers to keep Proxibid up-to-date. Please call our office at (919) 639-2231 immediately if you are disconnected from Proxibid or have any problems placing your bid online.
Two custom log cabins at Leatherwood Mountain Resort are being offered at a live and simulcast auction. Leatherwood Resort is a gated community with a full service equestrian center, on-site fishing, hiking, tennis, swimming, and more!
1. Broker is the agent of the Seller of the Property offered for sale by auction and Broker and Seller have agreed that this sale is to be conducted by including a buyer’s premium of 7% upon high bid price as determined by the Broker (“Buyer’s Premium”). The actual contract sales price shall be the sum of the successful high bid plus the Buyer’s Premium. (Ex: High Bid of $100,000 plus 7% Buyer’s Premium of $7,000 = $107,000 contract sale price.)
2. In consideration for the Seller and Broker allowing Bidder to bid at the auction of the Property, Bidder hereby acknowledges and agrees that if Bidder is the successful high bidder for the Property, then Bidder will enter into a purchase and sale contract on the day of the auction, under the terms and conditions stated in the auction materials.
4. A ten percent (10%) earnest money deposit is required in the form of a certified check, cash or wire transfer. The earnest money deposit is due within 72-hours of the close of the auction, with the balance of the contract purchase price due at closing within 45 days. Purchaser shall be responsible for all wire transfer fees ($20). The properties being offered are subject to seller confirmation.
5. All final payment of funds is due on or before 45 days post auction. Closing must take place on or before March 7, 2019.
6. Johnson Properties Realtors & Auctioneers, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspections prior to the auction. Johnson Properties Realtors & Auctioneers, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of he/she not conducting their own inspection prior to bidding. It is automatically acknowledged by placing a bid that you have personally inspected the property, hired an agent to inspect the property or waived your right to inspect the property.
7. All properties are offered “AS IS, WHERE IS” with no warranties either written or implied. Potential buyers are encouraged to research all property attributes (i.e. zoning, lot size, water and sewer availability and access, buildable or non-buildable, easements, encroachments, any governmental or private restrictions, restrictive covenants, etc.) to ensure that the property meets their intended use prior to bidding. The current appropriate county GIS information and aerial representations are provided as a courtesy, but are NOT GUARANTEED for accuracy.
8. REAL ESTATE BROKER/AGENTS: A 2% commission will be paid to any qualified broker who is duly licensed and whose properly registered client successfully buys and closes on the property. To qualify for a commission, the licensed broker/agent must first register the prospective bidder on the Johnson Properties Broker Participation Acknowledgement Form (provided by the auction company). Registration letters must be countersigned by the prospect and include the broker's and agent's license number, identification of the property, any agency disclosure statements, the letter and participation acknowledgement form. Commission is contingent upon, and will only be paid if the broker participation form is received by Auction Company no later than 12:00 P.M. Thursday January 17, 2019. In addition, agents must also attend the auction with their prospects. Johnson Properties will accept only one client per auction from any one Real Estate Broker/Agent.
9. Neither the seller nor Johnson Properties Realtors & Auctioneers, Inc. makes any representation of the condition or suitability of any property for any purpose. All properties are being sold “as is” in their present condition with all faults if any.
The properties have well water, septic system, and utilities available.
Wilkes County Tax Rate: 67. per $100 plus Ferguson fire dept. tax of .10 per $100
Zoning: unrestricted, but there are restrictive covenants associated with the Leatherwood Mountain Resort; these declarations of Covenants, Conditions and Restrictions can be found at: https://leatherwoodpoa.com/declaration-of-covenants-conditions-and-restrictions/
Please call (919) 639-2231 with any questions.
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